June 3 (Bloomberg) -- Emerging-market stocks rose for a
second day as a pickup in manufacturing spurred demand for
Chinese shares while investors speculated Thailand’s army will
boost the country’s economic growth.

Agriculture Bank of China Ltd. jumped to the highest level
since January in Hong Kong. The SET Index in Bangkok rose for a
sixth day. Turkish equities ended a two-day drop. Qatar’s stocks
dropped as concern deepened that it may lose the right to stage
the 2022 soccer World Cup. The Micex Index gained for a second
day in Moscow.

The MSCI Emerging Markets Index advanced 0.5 percent to
1,034.87. A Purchasing Managers’ Index from HSBC Holdings Plc
and Markit Economics on China rose to a four-month high,
signaling the world’s second-biggest economy is stabilizing.
Thailand’s junta pledged this week to step up investment and
today relaxed curfews in three main tourist areas that were
imposed following the May 22 coup.

“Fears of China’s economic slowdown deepening have been
put to rest” following the PMI numbers, Omair Ansari, an
equities analyst at Renaissance Capital Ltd. in London, said by
e-mail.

The developing-nation’s gauge has risen 3.2 percent this
year and is valued at 10.8 times projected 12-month earnings.
That compares with a 3.3 percent gain in the MSCI World Index,
which is trading at a multiple of 15.

Turkey Rises

The Borsa Istanbul 100 Index rose 0.2 percent. Turkey’s
inflation rate of 9.66 percent in May was below the median
estimate in a Bloomberg survey of 17 economists, the statistics
institute in Ankara reported today.

The Micex increased 0.6 percent, after jumping 2.3 percent
yesterday when Ukraine paid OAO Gazprom $786 million for gas it
received in February and March. The ruble depreciated 0.4
percent, falling for a seventh day, its longest streak of losses
since January.

Qatar’s stocks dropped for a second day, closing down 2.4
percent, the most since August 2011. The nation’s QE Index was
the worst performer among 93 indexes tracked by Bloomberg
globally.

The BUX Index in Budapest fell 0.9 percent, with OTP Bank
Nyrt. retreating from a 10-month high, sliding 2 percent. OTP,
Hungary’s largest lender, used unfair exchange-rate margins in a
foreign-currency mortgage loan, the country’s highest court said
in a ruling that may impact $15 billion in such contracts.

Thailand, India

The rand weakened 0.8 percent, sliding for a third day, as
economic data pointed to sluggish growth in the euro area, South
Africa’s biggest trading partner.

Nine out of 10 industry groups in the MSCI Emerging Markets
Index advanced, with a gauge of technology shares jumping 1.1
percent to a record high. Samsung Electronics Co., the world’s
largest maker of smartphones, gained 1 percent to the highest
since Nov. 29.

Thailand’s SET Index climbed 0.9 percent. The baht
appreciated 0.7 percent after slumping 0.9 percent in the six
days through yesterday, its longest losing streak this year.

The S&P BSE Sensex Index increased 0.7 percent to a record
high, after the Reserve Bank of India left its benchmark
interest rate unchanged for a second straight meeting.

The Hang Seng China Enterprises Index rose 1.2 percent to
the highest since April 10. China’s State Council said on May 30
that it will cut the reserve-requirement ratio for lenders that
have extended a certain amount of loans to rural borrowers and
smaller companies.

The Philippine Stock Exchange Index added 1.4 percent, the
most since April 21. The Jakarta Composite rose 0.6 percent.